Pro-Dex (NASDAQ:PDEX) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Pro-Dex, Inc. (NASDAQ:PDEX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.62 and traded as high as $63.50. Pro-Dex shares last traded at $62.89, with a volume of 234,749 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PDEX shares. Ascendiant Capital Markets boosted their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Pro-Dex Stock Performance

The stock has a 50-day simple moving average of $61.90 and a 200-day simple moving average of $50.62. The company has a market capitalization of $200.62 million, a price-to-earnings ratio of 17.37 and a beta of 0.01. The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.58. The business had revenue of $19.95 million during the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. On average, analysts anticipate that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Insiders Place Their Bets

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total transaction of $368,820.32. Following the completion of the transaction, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at $5,893,776.35. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

A number of hedge funds have recently bought and sold shares of PDEX. Punch & Associates Investment Management Inc. increased its holdings in Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock valued at $3,032,000 after buying an additional 1,735 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after buying an additional 24,927 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Pro-Dex by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after acquiring an additional 14,479 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock worth $440,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Corsair Capital Management L.P. bought a new stake in shares of Pro-Dex in the 1st quarter valued at approximately $532,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Pro-Dex Company Profile

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.